BILL GROSS: Uncle Sam Is A Budgetary Crystal Meth Addict, And I'm Afraid For Our Financial Marketshttp://www.businessinsider.com/bill-gross-damages-2012-10/comments
en-usWed, 31 Dec 1969 19:00:00 -0500Tue, 31 Mar 2015 18:38:01 -0400Joe Weisenthalhttp://www.businessinsider.com/c/506ae69c6bb3f7e962000015Logan MohtashamiTue, 02 Oct 2012 09:05:32 -0400http://www.businessinsider.com/c/506ae69c6bb3f7e962000015
Just look at the Mandatory Payouts from 2022-2050. Seriously, math is math... the rest is story telling.http://www.businessinsider.com/c/506ae37eeab8ea907a000002NeedToReadFullLetterTue, 02 Oct 2012 08:52:14 -0400http://www.businessinsider.com/c/506ae37eeab8ea907a000002
PIMCO missed timing, but just writing them off as a doomsayer is irresponsible.
How could you not mention the part of exerpt below? I recommend readers to read the letter in full.
...We owe, in other words, not only $16 trillion in outstanding, Treasury bonds and bills, but $60 trillion more. In my example, it just so happens that the $60 trillion comes not in the form of promises to pay bonds or bills at maturity, but the present value of future Social Security benefits, Medicaid expenses and expected costs for Medicare....Unless we begin to close this gap...inflation would follow and the dollar would inevitably decline. Bonds would be burned to a crisp and stocks would certainly be singed; only gold and real assets would thrive...http://www.businessinsider.com/c/506adeffeab8ead96d000022Tragic FigureTue, 02 Oct 2012 08:33:03 -0400http://www.businessinsider.com/c/506adeffeab8ead96d000022
Maybe because he's worth close to $1 billion and you're not.http://www.businessinsider.com/c/506adee169beddb47d000015MattTue, 02 Oct 2012 08:32:33 -0400http://www.businessinsider.com/c/506adee169beddb47d000015
The tens of trillions of unfunded obligations is hogwash. Big scary numbers that have no basis in reality.
<a href="http://www.levyinstitute.org/pubs/ppb_98.pdf" target="_blank">http://www.levyinstitute.org/pubs/ppb_98.pdf</a>http://www.businessinsider.com/c/506adc9deab8ea6e65000021black swanTue, 02 Oct 2012 08:22:53 -0400http://www.businessinsider.com/c/506adc9deab8ea6e65000021
"the U.S. is still considered the world’s “cleanest dirty shirt.”
By whom?
"UNICEF has reported that the U.S. has a higher child poverty rate than every industrialized
country except Romania."
"The U.S. poverty rate grew from 11.3% to 15.0%, a 33% jump, in just 11 years The median wealth for single black and Hispanic women is shockingly low, at just over $100 (compared to $41,500 for single white women).."http://www.businessinsider.com/c/506ad93669bedda77700000eGaultTue, 02 Oct 2012 08:08:22 -0400http://www.businessinsider.com/c/506ad93669bedda77700000e
His missive is fact-based - we have over $60 trillion of unfunded obligations, only $15 trillion of our debt is on the booksy.http://www.businessinsider.com/c/506ad764eab8ead85800002dmjeTue, 02 Oct 2012 08:00:36 -0400http://www.businessinsider.com/c/506ad764eab8ead85800002d
Mr. PIMPO is a disgrace. He shorted US Treasury bonds in 2011 and guess what? He lost big! He claimed then that interest rates would shot up! Guess what ? interest rates have dropped! Mr. PIMPO has always been wrong. I do not know why people listen to his garbage.